Print Options

(1) A licence issued under this Act shah be subject to the conditions that the Bank of Ghana may impose, including

(a) membership of the Ghana Deposit Protection Scheme, and

(b) the activities in which the bank or specialised deposit-taking institution is permitted to engage in.

(2) The Bank of Ghana may amend or vary a condition attached to a licence issued to a bank or specialised deposit-taking institution.

(3) The Bank of Ghana shall before taking an action under subsection (2) notify the bank or specialised deposit-taking institution concerned in writing.

(4) Where  a  bank  or  specialised  deposit-taking  institution  is  dis- satisfied with the decision of the Bank of Ghana, that bank or specialised deposit-taking institution may, within seven days of receipt of the notice, make a representation in writing to the Bank of Ghana.

(5) The Bank of Ghana shall, after considering the representation made by the bank or specialised deposit-taking institution, take a decision and notify the bank or specialised deposit-taking institution concerned of the decision made.